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Lula defends funding energy transition through oil revenues

Ahead of COP30 in Belém, Brazilian President Luiz Inacio Lula da Silva adopts a controversial stance by proposing to finance the energy transition with proceeds from offshore oil exploration near the Amazon.

Petrobras increases net profit in third quarter driven by production growth

Petrobras reported a net profit of $6 billion in the third quarter, supported by rising production and exports despite declining global oil prices.

Brazil extends coal usage despite dominance of renewable energy

The Brazilian government is granting new contracts to coal-fired power plants until 2040, illustrating the weight of regulatory decisions and industrial interests in a country predominantly powered by renewable energy.
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NU E Power acquires 500 MW of energy assets to strengthen global network

NU E Power Corp. acquires 500 MW of hybrid projects from ACT Mid Market Ltd. to support the global expansion of its artificial intelligence and Bitcoin mining infrastructure.

Global warming heads toward 2.5°C despite commitments

Current emission trajectories put the planet on course for a 2.3°C to 2.5°C rise, according to the latest UN calculations, just days before the COP30 in Belem.

Brazil Reduces Emissions by 16.7% in 2024 Ahead of COP30

A week before COP30, Brazil announces an unprecedented drop in greenhouse gas emissions, driven mainly by reduced deforestation, with uneven sectorial dynamics, amid controversial offshore oil exploration.
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Rondo Energy to deploy 100 MWh heat battery for HEINEKEN in Portugal

HEINEKEN, EDP, and Rondo Energy are deploying a 100 MWh industrial heat battery in Lisbon, providing renewable steam 24/7 using on-site solar power and the grid.

Iberdrola concludes the acquisition of 30.29% of Neoenergia for 1.88 billion euros

Iberdrola has finalized the acquisition of 30.29% of Neoenergia for 1.88 billion euros, strengthening its strategic position in the Brazilian energy market.

Vallourec secures over 20,000-ton pipeline contract in Brazil

The French group will supply carbon steel pipelines to TechnipFMC for the offshore Orca project, strengthening its strategic position in the Brazilian market.
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The UN validates an Article 6.4 methodology for landfill methane

The Paris Agreement Crediting Mechanism formalizes a landfill-methane methodology, imposes an investment-based additionality test, and governs issuance of traceable units via a central registry, with host-country authorizations and corresponding adjustments required.

Amapá hosts strategic oil complex with Petrobras and Transpetro

An agreement between Transpetro, Petrobras and the government of Amapá provides for the construction of an industrial complex dedicated to oil and gas, consolidating the state's strategic position on the Equatorial Margin.

TotalEnergies and Shell boost profits despite falling oil prices

Third-quarter results show strong resilience from European majors, supported by improved margins, increased production and extended share buyback programmes.
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Scatec cuts debt by 27% and reaches record 3,392 MW in projects

Scatec strengthened growth in the third quarter of 2025 with a significant debt reduction, a rising backlog and continued expansion in emerging markets.

CNOOC records 6.7% production increase over nine months despite Brent price decline

CNOOC Limited announced continued growth in oil and gas production, reaching 578.3 million barrels of oil equivalent, while maintaining cost control despite a 14.6% drop in Brent prices.

Equinor posts adjusted operating income of USD 6.21bn in Q3 2025

Equinor reported 7% production growth and strong cash flow, despite lower hydrocarbon prices weighing on net results in the third quarter of 2025.
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Bill Gates calls for climate priorities to refocus on human welfare

Bill Gates urges governments and investors to prioritise adaptation to warming effects, advocating for increased funding in health and development across vulnerable countries.

Galp Energia posts 53% quarterly profit surge driven by gas and refining

Portugal’s Galp Energia reported an adjusted net profit of €407 million in Q3, driven by higher refining margins and strong contribution from liquefied natural gas.

Voltalia posts 31% growth driven by booming services segment

Voltalia's Q3 2025 revenue rises to €164.7mn, fuelled by a sharp increase in services activity, while energy sales decline due to currency effects and lower prices.
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Shell pursues ambitions in the Orange Basin despite court ruling

Shell has filed an appeal against the cancellation of its environmental authorisation for Block 5/6/7 off the South African coast, aiming to continue exploration in a geologically strategic offshore zone.

Baker Hughes reports $8.2bn in orders in Q3 despite net income decline

Baker Hughes recorded a 23% increase in orders in Q3 2025, driven by its gas segment, while net income fell 20% year-on-year to $609mn.
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SBM Offshore sells FPSO Cidade de Paraty in $400 million leaseback deal

SBM Offshore finalises a non-recourse leaseback agreement worth $400 million for FPSO Cidade de Paraty, transferring ownership to a consortium of Chinese lessors for an eight-year period.

Petrobras builds wildlife centre to secure drilling permit in Brazil

Petrobras has completed a veterinary facility in the Amazon to meet a regulatory requirement for drilling in the strategic Foz do Amazonas region.

TSG strengthens its European network with two acquisitions in solar and electrical sectors

TSG has completed the acquisition of Leirivolt in Portugal and Kronenburg Techniek in the Netherlands, consolidating its expansion strategy in intelligent energy services across Europe.
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China and India urge BRICS to counter unilateral carbon mechanisms and tariffs

In Brasilia, China and India urged BRICS members to resist carbon taxes and trade measures imposed without international consensus, calling for stronger existing multilateral frameworks.

NGOs call for global ban on offshore oil exploration

Over 100 international organisations are urging a halt to offshore oil and gas exploration ahead of the United Nations Ocean Conference scheduled in June in Nice.

ENERGO-PRO acquires Baixo Iguaçu in Brazil for €250 mn and strengthens global presence

Czech company ENERGO-PRO becomes the largest Latin American investor with the acquisition of Brazil’s Baixo Iguaçu hydropower plant, marking a major milestone in its geographic diversification strategy.
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Shell commits major investment in Gato do Mato oil field off Brazil

Shell Brasil approves the offshore Gato do Mato project development, targeting production of 120,000 barrels per day by 2029, further consolidating its position as Brazil’s leading foreign oil producer.

Brazil accelerates investments in rare earths despite market uncertainty

With several mining projects recently funded, Brazil is strengthening its national strategy to exploit its rare earth reserves, amid sharply declining global prices and geopolitical tensions in this strategic market.

North Sea collision: an oil tanker and a cargo ship involved, 32 injured

A collision between the oil tanker Stena Immaculate and the cargo ship Solong off the coast of Yorkshire caused a fire and injured 32 crew members, who were evacuated to Grimsby. An environmental risk assessment is underway.
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Velto Renewables and Q ENERGY join forces to acquire 530 MW in Europe

Velto Renewables, backed by Caisse de dépôt et placement du Québec (CDPQ), and Q ENERGY have signed an agreement to acquire renewable energy projects in Europe. An initial portfolio of 130 MW has been acquired in France, with an additional 400 MW planned in Spain and Portugal.

South America will add 160 GW of solar capacity by 2034

South America is set to add 160 GW of solar photovoltaic capacity between 2025 and 2034, driven by energy diversification, growing electricity demand, and favourable system economics. Emerging markets complement this growth despite challenges related to infrastructure and transmission costs.

Petro-Victory and Blue Oak acquire Capixaba Energia to strengthen their presence in Brazil

Petro-Victory Energy Corp. and Blue Oak Investments have reached an agreement to acquire Capixaba Energia LTDA, an integrated onshore production company in Brazil, aimed at expanding their presence in the country's oil and gas sector.
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Eco Wave Power Reports Improved Financial Performance and Significant Progress in Global Projects

Eco Wave Power shows notable financial progress for 2024, with reduced operating expenses and a strengthened cash position. The company continues its international expansion with key projects in Israel, the United States, Portugal, and Asia.

Casa dos Ventos and ArcelorMittal Brasil launch Babilônia Centro wind farm production ahead of schedule

The Babilônia Centro wind farm, developed in partnership between Casa dos Ventos and ArcelorMittal Brasil, enters commercial production with 28 turbines out of 123. This launch marks a 13-week advancement from the original schedule.

EIB finances Galp’s renewable hydrogen and biofuels projects in Sines with €430 million

The European Investment Bank (EIB) grants a €430 million loan to Galp to fund two strategic projects at the Sines refinery, aimed at supporting the decarbonisation of heavy transport and aviation.
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EDP reports a 16% drop in annual profit, impacted by renewables

Portuguese group Energias de Portugal (EDP) announces a 16% decrease in its 2024 annual profit, affected by disappointing performance in its renewable energy subsidiary, particularly due to the abandonment of wind projects.

Eco Wave Power begins infrastructure works for its wave energy project in Portugal

Eco Wave Power starts infrastructure improvement works for its wave energy generation project in Porto, aiming to install a 1 MW unit by 2026.

New discoveries at the Mopane field in Namibia bolster the country’s oil ambitions

Namibia has announced new discoveries at the Mopane oil field offshore. This development could accelerate the country's ambitions to become a crude oil producer by 2029.
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Petrobras reports a $2.8 billion loss in Q4 2024

Brazil's oil giant Petrobras announced a $2.8 billion loss for Q4 2024, primarily driven by a depreciation of the real and falling oil prices. Its net profit for the full year plummeted by 70%.

Vallourec sees 2024 profit decline but announces first dividend in ten years

French pipe manufacturer Vallourec reported a 9% decline in net profit for 2024 but plans to pay a dividend of €1.50 per share, its first in ten years.
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